Serica Energy (LON:SQZ) Stock Price Up 8.4% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s share price shot up 8.4% during mid-day trading on Tuesday . The stock traded as high as GBX 147 ($1.90) and last traded at GBX 145.20 ($1.88). 3,347,482 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 2,514,716 shares. The stock had previously closed at GBX 134 ($1.73).

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 200 ($2.59) price objective on shares of Serica Energy in a report on Thursday, January 23rd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 ($2.59) price target on shares of Serica Energy in a research note on Tuesday, February 18th.

Serica Energy Trading Up 8.4 %

The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The company has a market cap of £715.58 million, a price-to-earnings ratio of -100.07, a PEG ratio of 2.15 and a beta of 0.44. The firm has a 50 day moving average price of GBX 134.97 and a two-hundred day moving average price of GBX 136.45.

Serica Energy (LON:SQZ) last released its earnings results on Tuesday, April 1st. The company reported GBX 0.24 ($0.00) earnings per share for the quarter. Serica Energy had a negative net margin of 1.09% and a negative return on equity of 1.09%. As a group, equities analysts forecast that Serica Energy plc will post 30.373444 earnings per share for the current year.

Serica Energy Company Profile

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea.